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November 24, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Livingston, Business Loans > Cit Small Business Lending Corp Livingston Business Loans > Dunkin Donuts Loan | ||||
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Best Banks for Ridgewood Businesses
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Ridgewood, NY Entrepreneur Gets SBA Loan to Buy Dunkin Donuts FranchiseNeed money to purchase a Dunkin Donuts franchise? Cit Small Business Lending Corp has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Ridgewood, New York needed money to invest in a Dunkin Donuts franchise back in 2003. Cit Small Business Lending Corp issued an SBA franchise loan. Here are the details on this New York small business loan. SBA Loan Borrower DUNKIN DONUTS SBA Loan Lender CIT SMALL BUSINESS LENDING CORP This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311811 - Retail Bakeries Loan Approval Date 3/28/2003 Loan Approval Gross Amount $338,000 Loan Approval from the SBA Of the total $338,000 loan amount, the SBA guaranteed $253,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Dunkin Donuts franchise. At the time of the loan, the company had 18 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cit Small Business Lending Corp and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Who Lends Money to Small Businesses in Livingston, New Jersey
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